Updates:

1. Where the shareholders are present in the meeting and willing to participate in the meeting, it cannot be held that it is impracticable to call the meeting. [Vil ltd. vs. Raibareilly Allahabad Highway (p.) Ltd. (clb) Delhi].
2. SEBI vide Circular on mutual funds increased the additional exposure limits provided for housing finance companies (HFCs) in financial services sector from 5% to 10%.
3. Indian Overseas Bank invites application for empanelments of concurrent audit. The firm or its prop/partners have not been the subject of inquiries in the past by the ICAI.
4. SEBI has launched electronic mode for payment of penalties, disgorgement as well as settlement amounts. 
5. On STBA representation dated 09.08.2016 the following problems resolved by the Delhi VAT Department.

• DSC made optional.
• In Item code with rate of 12.5% the option of others would now be working.
• Restaurant & Halwai dealers under composition Scheme can now file returns without filing commodity  in Annex-2B..
• C forms can now be uploaded even if dealer has not filed the return for Q-1 2016.
• Labour & service charges can now be filled in Annex 2A/2B without item Code.